VOCAB Unit 6 Industrial Revolution

Urbanization

Process of making a city

Industrialization

the development of industries in a country rural area

Enclosures

Large farms which boosted production with less workers

Assembly Line

Manufacturing method that maximized efficiency of production

Mass Production

Process of making large quantities of a product quickly and cheaply using a machine

Capitalism

An economic system based on private ownership of capital

Socialism

Theory that government should own means of production

Laissez-faire

Economic system where government stays out of the economy

Entrepreneur

A person who starts a business

Capital

Large sum of money to invest or make a business

Union

A group of organized workers formed to protect their rights

Collective Bargaining

Unions use this tactic to negotiate and make agreements with their employers

Suffrage

Right to vote (given to women in 1920)

Proletariat

working class who do not own means of production

Borgeoisie

Karl Marx's name for the middle class who exploit workers (Proletariat)